The Stockholders' Equity Section of Makoto Corporation's Balance Sheet at December

The stockholders' equity section of Makoto Corporation's balance sheet at December 31 2016 appears below:
Stockholders' equity
Paid-in capital Common stock, $\$ 10$ par value, 400,000 shares authorized;
$\begin{array}{cr}250,000 \text { issued and outstanding } & \$ 2,500,000 \\\text { Paid-in capital in excess of par } & 1,200,000 \\\text { Total paid-in capital } & 3,700,000 \\\text { Retained earnings } & \$ 600,000 \\\quad \text { Total stockholders' equity } & \$ 4,300,000\end{array}$ During 2017 the following stock transactions occurred: Jan. 18 $\quad$ Issued 50,000 shares of common stock at $\$ 32$ per share.
Aug. 20 $\quad$ Purchased 25,000 shares of Makoto Corporation's common stock at $\$ 26$ per share to be held in the treasury.
Nov. 5 $\quad$ Reissued 9,000 shares of treasury stock for $\$ 28$ per share. Instructions

Prepare the stockholders' equity section of the balance sheet for Makoto Corporation at December 31 2017. Assume that net income for the year was $100000 and that no dividends were declared.